euro adhoc: bwin Interactive Entertainment AG / Financial Figures/Balance Sheet / bwin Interactive Entertainment AG - results for the first nine months 2008

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quaterly report

20.11.2008

Vienna, 20 November 2008 bwin Interactive Entertainment AG - results
for the first nine months 2008

Q1-Q3 2008 (pro forma consolidated)

Record gross gaming revenues: up 20.6% to EUR 303.1 million
Record gross sports betting revenues: up 26.7% to EUR 170.9 million
EBITDA (adjusted) of EUR 46.0 million
Result after tax -EUR 2.7 million

Significant improvement in result expected in 2009:
Gross gaming revenues for 2009 total EUR 430 to 445 million
EBITDA (adjusted) for 2009 of at least EUR 100 million

In EURm Q3/2008 Q3/2007 1-9/2008 1-9/2007 2007
Gross gaming revenues 95.9 86.2 303.1 251.3 353.5
Net gaming revenues 83.7 75.5 263.6 223.2 312.6
Operating expenses -91.8 -81.0 -271.0 -216.6 -315.8
EBITDA (adjusted) 9.6 15.2 46.0 49.7 62.9
EBIT (adjusted) -2.7 1.7 11.3 13.7 72.8
Result after tax -7.0 -5.1 -2.7 -0.8 50.4

In the first nine months of 2008 bwin generated gross gaming revenues
(sum of gross gaming revenues from betting operations, poker, casino
and games) of EUR 303.1 million. This represented an increase of
20.6% compared to the same period the previous year (Q1-Q3 2007: EUR
251.3 million). The gross gaming revenues generated from the poker,
casino and games sectors amounted to EUR 63.0 million (Q1-Q3 2007:
EUR 60.7 million), EUR 54.2 million (Q1-Q3 2007: EUR 45.1 million)
and EUR 15.1 million (Q1-Q3 2007: EUR 10.7 million) respectively.
This represented increases of 3.7% for poker, 20.2% for casino, and
41.6% for games compared to the first nine months of 2007.

After adjustment for non-cash expenses (IFRS 2 - share-based
remuneration) in the amount of EUR 12.9 million, in first nine months
of 2008 EBITDA (earnings before interest. taxes. depreciation and
amortization) declined 7.4% compared to the same period the previous
year to EUR 46.0 million (Q1-Q3 2007: EUR 49.7 million). This was
largely attributable to an increase in operating expenses.

Cash and cash equivalents increased by 49.3% compared to the previous
year (Q3 2007: EUR 95.1 million), and totalled EUR 142.0 million as
of 30 September 2008. After deduction of customer deposits in the
amount of EUR 83.0 million (Q3 2007: EUR 64.2 million), bwin's net
cash position as of 30 September 2008 increased by 91.3 % to EUR 59.0
million (Q3 2007: EUR 30.8 million).

The first seven weeks of the current quarter have accentuated the
anticipated seasonal trend improvement with a marked rise in average
daily gross gaming revenues of 25% compared to the average gross
gaming revenues of Q3 2008. Management therefore anticipates a rise
in gross gaming revenues for 2008 to EUR 415 million (2007: EUR 353.5
million), with net gaming revenues of around EUR 360 million (2007:
EUR 312.6 million), and an adjusted EBITDA of EUR 65 million (2007:
EUR 62.9 million).

In addition, the comprehensive cost-cutting programme introduced in
Q4 should lead to a marked improvement in earnings in 2009. It should
be possible to save around EUR 40 million in the year 2009 without
jeopardizing the Company´s growth potential. Marketing expenses will
account for half this saving, the other half coming from other
operating expenses.

Based on forecast gross gaming revenues for 2009 of EUR 430 to 445
million, management anticipates an adjusted EBITDA of at least EUR
100 million.

The complete report on the results on the first nine months 2008 can
be found online on the bwin investor relations website at
www.bwin.ag, where it can also be downloaded in pdf format.

end of announcement euro adhoc
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ots Originaltext: bwin Interactive Entertainment AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Investoren:

Konrad Sveceny, Investor Relations

bwin Interactive Entertainment AG

Boersegasse 11, 1010 Vienna, Austria

Tel.: +43 (0) 50 858-20017

E-mail:investorrelations@bwin.org

http://www.bwin.ag

Presse:

Kevin O'Neal, Pressesprecher

bwin Interactive Entertainment AG

Boersegasse 11, 1010 Vienna, Austria

Tel.: +43 (0) 50 858-24010

E-mail:press@bwin.org

http://www.bwin.ag

Branche: Casinos & Gambling
ISIN: AT0000767553
WKN: 936172
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official dealing